US will consider re-entering TPP, Treasury Secretary Mnuchin says

Denis Balibouse | Reuters

Steven Mnuchin, U.S. Secretary of the Treasury, gestures as he attends the entire world Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018.

The United States will consider re-entry to the Trans Pacific Partnership once Washington accomplishes its goals on additional trading relationships, U.S. Treasury Secretary Steven Mnuchin said while on an official visit to Chile on Wednesday.

Trans Pacific Partnership is usually aimed at cutting trade barriers in some of the fastest-growing economies of the Asia-Pacific region. The original 12-member deal was thrown into limbo early last year when President Donald Trump withdrew the United States coming from This particular, citing concerns about protecting U.S. jobs.

“Our focus at the moment, is usually obviously we’re working on renegotiation of NAFTA, we’re very focused on our trading relationship with China, which is usually way too much in one direction. Our markets are open to them, their markets are not open to us, on the same basis,” Mnuchin said at a news conference.

He was in Chile following a two-day meeting of officials coming from the entire world’s 20 biggest economies in neighboring Argentina on Monday as well as Tuesday.

“nevertheless as we accomplish our goals on these additional trading relationships, This particular [TPP] is usually definitely something in which we will consider as well as Chile will be a big partner of ours in in which at the right time,” Mnuchin said.

Chile Finance Minister Felipe Larrain said the South American nation would certainly welcome U.S. participation from the partnership.

“We would certainly very much like to contain the United States back from the TPP,” he said.

Addressing U.S. sanctions against Venezuela, Mnuchin said they are directed not at the population nevertheless at individuals who are taking resources coming from the Venezuelan people.

Trump on Monday signed an executive order barring any U.S.-based financial transactions involving Venezuela’s fresh petro cryptocurrency, as U.S. officials warned in which This particular was a “scam” by President Nicolas Maduro’s government to further undermine democracy from the OPEC country.

Mnuchin said the upcoming presidential election in Venezuela on May 20 would certainly not likely change in which strategy.

“Under President Trump the Treasury has been very aggressive in using its sanction powers,” Mnuchin said.

Mnuchin said This particular was important in which additional countries as well as the European Union join in sanctioning Venezuela.

“We’re having discussions with the EU about them putting sanctions, as well as matching our sanctions, to ensure in which they come along as well as in which we have a united front,” Mnuchin said.

Critics accuse Maduro of turning Venezuela into a dictatorship. His government says the sanctions break international law.